Listen: Brazil, James Maryland Carlos, Zeller Zeller discussed on American Greed Podcast

"And thinking what the heck did you do. How could you be so stupid. I mean how could you be so naive. I do think this is this is great. This is the opportunity of your life. One friend called me and say you know what happened. We Alex folks free. I say no what happened in. They say they stalling everybody money. I say why that's the only money I have to fix my problems big problem. That's my life. Within within twenty four hours of the bankruptcy filing agents from Homeland Security raid the telex free headquarters. They seized hard drives that contain every transaction action made in the two years of the company's short life it is clear that the deception will soon be discovered and then Carlos is one dollar makes a move the very day that the agents searched offices Carlos Juan Zeller uh meets his daughter WHO's at a local mall he packs a bag hops in a car and has her drive him <unk> over the Canadian border to Montreal where the next day he gets on a plane Ria and he has not left Brazil cents in little more within two years one hundred seventy thousand people in the US join telex free and additional victims can be found in every corner nerve the globe there are seventeen thousand in Uganda close to three thousand in Afghanistan Twenty six thousand in Russia China more than Ninety Indy Thousand Bankruptcy Trustees Steve Dr. We had a number of farmers in the Dominican Republic who not only mortgage their our farms to participate but they pledged their future cops to participate in in this game and the only person in the US facing criminal charges as for all this damage is James Merrill his defense. He actually wanted the company to succeed. He tried to fix it but that doesn't fly with with the prosecutors who point to Meryl's Youtube appearances like these as evidence against him but James Merrill needed to do was walk out the door and he chose not to do that and at that moment is when he decided that he'd rather run a criminal enterprise and not tell anybody to criminal enterprise instead of simply leaving and so he pleads guilty to charges of wire fraud and sentenced to six years in prison he finally acknowledges knowledge is that free is a pyramid scheme in this case. Mr Merrill acknowledged that he was with Lee Blind directly in the in the face of obvious facts he wasn't paying attention to them and his friend cross one had a different idea about where this is going and to a large degree Carlson Zeller Used Jim Merrill to accomplish his goals through their attorneys. Both James Maryland Carlos ones the Klein interview requests from American greed at this point. One Zeller is still in Brazil well. He seems to be doing just fine. He's not in custody. It appears that he is under indictment in Brazil for running the telex free game so he will be prosecuted there but he appears to live in a high rise in Vitoria Brazil and just go about his business day to day but what ones Eller does not know is that federal agents in Brazil loosening to his phone calls from his conversations. US authorities learned that one's honored is sending currier to pick up money he has left in the US until homeland security investigations sets up a sting the hand off of the cash is to take place in a parking lot and and so it was on that night January fourth two thousand seventeen that they censor balance and they waited for a person to show so behold person shop at any red SUV and delivered a bag put in the trunk of the car along with undercover Asian of two point a two billion dollars shortly after the person delivering the cash is arrested Cleber Roshan who was once a promoter for telex for Brazil will now. He is doing one others dirty work. It turns out that Russia has been here twice before helping ones alert collected elected cash want the county dieter tuition vis. No you know with the potential criminal charges. Russia decides to stop helping Carlos one seller. He provides the address of the apartment where he says there is some cash but no one could imagine just how much when the Asia and searched the apartment they find a box spring mattress dubbed with money approximately twenty million dollars in cash and we thought that might be a million dollars out there air but staggering that theory that much cash out there but those millions of dollars do not belong to Carlos one Zeller Zeller. That money belongs to these people every few months the Chelsea collaborative holds a meeting to update the telex free victims. I'm Steven Dr. I'm the court appointed trustee. The bankruptcy trustee informs them that so far he is be covered one hundred sixty eight million dollars's it and then he is also going after the top recruiters who made off with the bulk of the money. We're trying to recover money from the winners. The people were took more money out than they put in but what concerns many in this room is not just the money they lost but also the people they brought into the scheme for that they placed blame on themselves as hard for me because you know man of the family in his higher to look at my wife. Dora in C- in our investment all the hard work what we did it goes to drain on the day that James Merola Merle sentenced gladys big represent his victims and get a chance to speak to him directly in basically looked at his face. You and I said you stole the dreams and the hopes of these people. You don't deserve six years or whatever whatever they're negotiating. You serve to be in jail for life I for me. It was one of more moments because because these people really really care about this company and they literally gave all they had and for the prosecutors the tax free fraud is one for the record books the success of the permits game and the speed with which it grew who took over the world is unlike any other fraud case. I've done in about fifteen years as a fraud prosecutor to do that much damage in and that short a period was really amazing and just showed you how dangerous these kinds of scams are thanks for listening to the American read podcast presented by CNBC. I'm Stacey Koon at Matthews Asia we uncover unique companies across Asia prime to benefit from consumer trends that brought her international funds miss find out what a dedicated allocation to Asia can add to your portfolio at Matthews Asia. Dot Com slash opportunity.."

American Greed Podcast

Brazil, James Maryland Carlos, Zeller Zeller discussed on American Greed Podcast

American Greed Podcast

3 months ago

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Brazil, James Maryland Carlos, Zeller Zeller discussed on American Greed Podcast

American Greed Podcast

3 months ago

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